◂ Event Timeline

Jun 28, 2018GEOPOLITICSIran

U.S. oil prices hit three-and-a-half-year high on concern over Iran sanctions

WTI settled at $73.45, reaching its highest level since November 2014 as U.S. sanctions threatened a large drop in Iranian crude exports. Unplanned outages in Canada, Libya and Venezuela also supported prices.

WHY IT MATTERS

Sanctions-driven supply risk on top of existing outages keeps upward pressure on crude, which feeds through to energy and freight costs for feed buyers.

AFFECTSCrude Oil (WTI)▲

SOURCE
reuters.comStephanie KellyJun 28, 2018

Price reaction & history

Crude Oil (WTI)▲bullishSO FAR1d -3.1%5d -3.7%20d -6.5%

After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.

Sep 29, 2018Brent hits 4-year high as U.S. sanctions on Iran tighten supply+1.5%
May 17, 2026Oil prices rise 3% to two-week high on Iran war supply concerns | Reuters-8.1%
Mar 20, 2025Oil prices settle $1 higher after US issues new Iran-related sanctions+3.9%
Apr 30, 2026Oil retreats after hitting four-year high on concern of US-Iran war escalation | Reuters-10.8%
Sep 14, 2018Oil prices rise ahead of deadline for US sanctions on Iran | The National+3.2%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Crude Oil (WTI) WTI · GP ▸

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